HealthNet Federal Credit Union

How Can I Save For a Big Ticket Item?
Calculator

Are you saving for a big ticket item? A car? A boat? A motorcycle? Use this calculator to figure out how long it will take you.

Your Information

Amount You Want to Save

Amount You Want to Save

Enter the cost of your big ticket item.

Amount to Invest Now

Amount to Invest Now

Enter the amount of money you currently have to invest or have already saved.

Amount You Can Save Monthly

Monthly Savings

Enter the amount of money you can save each month to meet your goal.

Months to Save

Months to save

Enter the total number of months you plan to save. If your target is one and half years from now, enter 18 months.

Annual Rate of Return

Annual Rate of Return

Enter the annual rate of return you expect to achieve on your savings. This can be the rate you recieve on a savings account or the annual rate of return you achieve through investments.

Your Federal Tax Rate

Federal Tax Rate

Enter your federal tax rate. If you are using a tax free savings instrument, then enter 0%.

Your State Tax Rate

State Tax Rate

Enter your state tax rate. If you are using a tax free savings instrument for the state in which you reside, then enter 0%.

Inflation Rate

Inflation Rate

Enter the inflation rate you would like to use for this calculation. The historical average is 2-3%.

Results

If you invest
$0 now and
$0 monthly for
0 months at
0%, you will have saved
$0.

To achieve a savings of exactly
$0, you can do one of the following:

Change amount invested now to:
$0

Change monthly savings to:
$0

Change months to save to:
0

Achieve a rate of return of:
0%

When adjusted for inflation of
0%,
$0 is worth
$0 in
0 months.

Information

HealthNet Federal Credit Union

Serving employees, independent contractors, or self-employed person who work in the health care industry in Shelby, Lauderdale, or Henderson Counties, Tennessee, or Desoto, Lafayette, Union or Prentiss Counties, Mississippi, or St. Francis, Mississippi, or Fulton Counties, Arkansas.

Resources

Resources

FinancialLiteracyMonth.com's Tools for Success section offers a helpful "Financial Goals Worksheet" and a "Financial Priorities Worksheet." Be sure your goal has a specific purpose, a dollar amount that it will cost, and a realistic target date. And take a look at the big picture to make sure your big ticket item is a priority.

At Credit Unions, You Save More Because credit unions are member-owned and member-operated, they pay-it-forward to members in the form of better interest rates and lower fees (instead of sending profits up to shareholders, like at a bank.) Find yours at www.CULookup.com.